Waikiki’s Famous Ilikai Hotel Reopens After Abrupt Closure

After an unexpected two-week closure, the famous Waikiki landmark reopened with a new focus and bargain-basement prices. On July 9, the hotel suddenly closed, giving guests only 24 hours to leave their room, due to financial difficulties. On July 25, the hotel was reopened with rates raging around $90 a night. These rates are based on 10% to 20% discounts in order to show the Ilikai’s new value-oriented nature and attract business back to the hotel.

The 30-story Y-shaped hotel is regarded as Oahu’s first luxury hotel since its opening in 1964. The hotel gained fame in the late 60’s when popular TV cop show “Hawaii Five-O” featured it in an opening sequence. The hotel was recently purchased in a foreclosure auction by iStar Financial. When the company closed the hotel, they worked out a new deal with local union workers. iStar financial retained Aqua Resorts as the Ilikai Hotel’s management company. Aqua already operates a string of hotels in Hawaii, including the Aqua Pearl, which is located almost across the street from the Ilikai.